As medical care advances and treatments increase, health care costs also increase. The purpose of health insurance is to help you pay for care. It protects you and your family financially in the event of an unexpected serious illness or injury that could be very expensive.
Buying adequate health insurance from early in life and increasing it time by time gives peace of mind and ensure that if you (or a covered family member) get sick or injured you are not footing the entire medical bill on your own. We strongly advise corporate employees to have separate cover along with the employer provided cover.
In addition, you are more likely to get routine and preventive care if you have health insurance. You need health insurance because you cannot predict what your medical bills will be. In some years, your costs may be low. In other years, you may have very high medical expenses. If you have health insurance, you will have peace of mind in knowing that you are protected from most of these costs.
Some basic questions while planning for health insurance are:
- How much health insurance cover should I buy?
- What is the adequate health insurance cover one should have?
- Should I have policy with copayments and sub limits?
- Should I go with individual policy or family floater?
- Do I need to top it up with personal accident policy and critical illness plan also or just buying higher sum assured in Mediclaim would be enough?
- Which Insurance company and product is good?
All this and many more questions naturally come up in mind of person who gets convinced to buy health insurance policy. I used the word convinced because there are many people who still believe that buying health insurance is waste of money or are dependent on their employer’s provided cover. we try to answer all the above mentioned queries and suggest the right solution.
We also believe that the way medical and education costs are increasing, going forward life is going to be very difficult. Having health insurance is good but many times health insurance may not be enough, so one should also accumulate decent medical corpus too.